Kitex Garments Hits Upper Circuit Limit, Showcases Strong Market Resilience in Textile Sector

Kitex Garments Ltd, a small-cap player in the textile industry, has made headlines today by hitting its upper circuit limit. The stock reached an intraday high of Rs 182.4, reflecting a notable increase of 5% from its previous close. This surge is part of a broader trend, as Kitex Garments has outperformed its sector by 4% and has recorded consecutive gains over the last two days, accumulating a total return of 6.73% during this period.
The stock's last traded price stands at Rs 182.4, with a total traded volume of approximately 2.30 lakh shares, resulting in a turnover of Rs 4.15 crore. Despite a slight decline in delivery volume, which fell by 23.67% compared to the five-day average, the stock remains liquid enough for trades of Rs 0.2 crore based on 2% of the five-day average traded value.

In terms of moving averages, Kitex Garments is currently above its 5-day, 20-day, and 200-day moving averages, although it remains below the 50-day and 100-day averages. Overall, the stock's performance today highlights its strong market position within the textile sector, showcasing resilience and positive momentum.